Itaú Corpbanca Files Material Event Notice announcing the Board of Directors Changes

Rhea-AI Summary

Itaú Corpbanca (NYSE: ITCB) announced the resignation of director Jorge Andrés Saieh Guzmán, effective immediately, during an ordinary Board of Directors meeting on July 27, 2022. Subsequently, Ricardo Villela Marino was appointed as Chairman, and Milton Maluhy Filho as Vice Chairman. Additionally, alternate director Álvaro F. Rizzi Rodrigues will take Saieh Guzmán's place until a definitive appointment is made at the next annual general meeting. This leadership change aims to ensure continuity within the Board.

Positive

• Appointment of Ricardo Villela Marino as Chairman may provide fresh leadership and strategic direction.
• Milton Maluhy Filho's role as Vice Chairman could enhance governance.

Negative

• Resignation of a director may raise concerns about continuity and experience within the Board.

News Market Reaction – ITCB

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In the trading session that priced this news, ITCB declined 0.64%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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SANTIAGO, Chile, July 27, 2022 (GLOBE NEWSWIRE) -- ITAÚ CORPBANCA (NYSE: ITCB; SSE: ITAUCORP) announced that it filed today a Material Event Notice with the Chilean Commission for the Financial Market reporting that at the ordinary meeting held today, the Board of Directors of Itaú Corpbanca (the “Board”) was informed about the resignation of Mr. Jorge Andrés Saieh Guzmán as director of the Bank, which is effective as of this date.

Considering the above, the Board resolved to appoint Mr. Ricardo Villela Marino as its Chairman and Mr. Milton Maluhy Filho as its Vice Chairman.

Finally, and in accordance with Section 9 of the by-laws of Itaú Corpbanca, the Board resolved that the alternate director Mr. Álvaro F. Rizzi Rodrigues will assume as director until the definitive appointment is made in the next annual general meeting of shareholders of the Bank.

The full Material Event Notice is available on the company’s investor relations website at ir.itau.cl.

Investor Relations – Itaú Corpbanca

+56 (2) 2660-1701 / IR@itau.cl / ir.itau.cl

FAQ

What leadership changes were announced by Itaú Corpbanca on July 27, 2022?

Itaú Corpbanca announced the resignation of director Jorge Andrés Saieh Guzmán and appointed Ricardo Villela Marino as Chairman and Milton Maluhy Filho as Vice Chairman.

Who will replace Jorge Andrés Saieh Guzmán until the next annual general meeting?

Álvaro F. Rizzi Rodrigues will assume the role of director until the next annual general meeting, following Saieh Guzmán's resignation.

How might the management changes at Itaú Corpbanca affect its operations?

The appointment of new leadership could bring fresh perspectives and strategic direction, but may also raise questions regarding continuity.